Latest news (24,764 items)

Pulse burn rate narrrows

The loss at Pulse International narrowed to $5.5 million in the year to 2002 from a loss of $6 million in 2001, the PwC report on BankWest reveals. read more

Westpac loses market share in housing, business loans

Westpac yesterday disclosed that it lost market share in the home loan market and in business banking in the two months to May 2003, but gained market share in personal banking. In a presentation to an investor conference organised by Deutsche Bank in London, Westpac's chief financial officer Phil Chronican disclosed that: read more

Rothschild recovers profit

The Rothschild group recovered profitability in Australia in the year to March 2003, reversing some of the credit losses that sent the bank into the red in 2002. Financial statements for NM Rothschild Australia Holdings Pty Limited show the group recorded: read more

EzyBanking chief jumps to Suncorp

Woolworths Ezy Banking is without a manager at either the Commonwealth Bank end or the Woolworths end of the venture following the snap resignation at the end of last week of CBA's Jan Bowe. read more

NAB copies Westpac credit card rate

National Australia Bank have paid Westpac a favour and copied the introductory rate on credit cards of 4.9 per cent instigated by Westpac two months ago as one of the gimmicks for the launch of the Virgin credit card. read more

Cashcard index primes IPO

Cashcard yesterday began the promotion of a "retail activity index", a measure of consumer spending each month generated from Eftpos transactions processed by the payments provider. read more

Commonwealth Bank buys into Loy Yang A

The lenders to the Loy Yang Power Partnership look like they've saved their skin, and the vendors of the partnership have emerged with some take home change, as a consortium ld by AGL presses ahead with exclusive negotiations to buy the Loy Yang A power complex in Victoria. read more

ACCC sets conditions on Eftpos market

The ACCC has set conditions on the conduct of Telstra, and possibly also by Keycorp, in the Eftpos market following complaints by other telcos that it was impractical to compete for the telecommunication business of merchants due to the contracts that Keycorp and Telstra reach with their customers. read more

Farmers NZ sale nears

The New Zealand Herald speculates that a management buy out is the most likely outcome for Foodland Associated's disposal of the Farmers department store and credit card business in New Zealand. The paper reports that Foodland expects to finalise the sale next week. read more

ECard returns capital

Smart card system provider ECard has provided a little financial relief to its shareholders, returning $5 million in capital last week to ANZ Bank and Telstra. The return of capital reduces ECard's share capital to $17.2 million from $22.2 million. read more

Fortis quits project finance market

Fortis Bank has had a last minute change of heart about pushing into the project finance business in Australia, and fired a specialist team hired only a few weeks earlier to undertake the work. read more

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